Jio Platforms IPO subscribed 22.19 times, prices at upper band
· Business · Indian Express, LiveMint
Jio Platforms’ IPO closed with a record 22.19‑times subscription, driven by robust institutional demand of nearly Rs 2.5 lakh crore. The final issue price was set at the upper end of the band at Rs 1,119 per share, raising Rs 30,213 crore, with investors bidding for 438.26 crore shares against 19.75 crore shares on offer. Institutional buyers alone subscribed 70.55‡times their allocated quota, while retail investors bid 2.72‡times and employees 2.93‡times. The shares will list on the BSE and NSE on October 28, with analysts projecting a market cap above Rs 10 lakh crore. Jio plans to use Rs 27,500 crore of the proceeds to repay debt and allocate the rest for general corporate purposes.
Why it matters
The mega‑size issue reshapes India’s capital markets, offering retail and institutional investors a high‑valued stake in the telecom‑to‑digital giant. With a projected market cap exceeding Rs 10 lakh crore, the IPO creates a new valuation benchmark and boosts investor confidence amid market volatility, while the company’s debt‑reduction plan strengthens its balance sheet. Analysts also note that the listing could trigger a cascade of new public offerings in the tech and telecom sectors.
Read the original report — Indian Express
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